Oklahoma § 62-57.125 Sinking fund.

Oklahoma Statutes

§ 62-57.125 — Sinking fund.

Oklahoma § 62-57.125

Title 62Public Finance

This text of Oklahoma § 62-57.125 (Sinking fund.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 62, § 62-57.125 (2026).

Text

There is hereby created in the State Treasury a fund to be known as the "State of Oklahoma Building Bonds of 1968 Sinking Fund" (herein called the "sinking fund"), which is hereby irrevocably pledged to the payment of the interest on, and principal of, the bonds issued hereunder, and monies to the credit thereof shall be paid out only in the manner and at the time and places provided for in the resolution or resolutions of the Commission authorizing the issuance of such bonds. Beginning on the first day of the month following the adoption of said constitutional amendment, the Oklahoma Tax Commission, when transmitting to the State Treasurer the monthly collection of the tax on cigarettes, shall also transmit to the State Treasurer a schedule showing the net proceeds of the tax on each pack

Free access — add to your briefcase to read the full text and ask questions with AI

There is hereby created in the State Treasury a fund to be known as the "State of Oklahoma Building Bonds of 1968 Sinking Fund" (herein called the "sinking fund"), which is hereby irrevocably pledged to the payment of the interest on, and principal of, the bonds issued hereunder, and monies to the credit thereof shall be paid out only in the manner and at the time and places provided for in the resolution or resolutions of the Commission authorizing the issuance of such bonds. Beginning on the first day of the month following the adoption of said constitutional amendment, the Oklahoma Tax Commission, when transmitting to the State Treasurer the monthly collection of the tax on cigarettes, shall also transmit to the State Treasurer a schedule showing the net proceeds of the tax on each package of cigarettes levied by Section 1, Chapter 47, 1968 Oklahoma Session Laws. It shall be the duty of the State Treasurer, upon receiving said taxes and schedules from the Oklahoma Tax Commission, to deposit in the Sinking Fund such portions of the cigarette tax or taxes hereinabove pledged to the payment of the bonds issued hereunder as may be necessary to assure prompt payment of the interest on, and the principal of, the outstanding State of Oklahoma Building Bonds of 1968 as the same fall due.